AMD Update: Still waiting for the retrace

We're still waiting for wave ii to really kick off. Notice we haven't made a new high though? MACD seems reset too and ready for another drop soon. This would mirror AAPL in regard to a move lower in price. AMD is also on neg div on the micros and 1HR chart which supports the count.

So far structure carved out what appears to be the a-b waves, and it points to the target box I have drawn. I feel the $120's is our most likely spot for this retrace to end. Until we have more downside action though, I can't refine our target more. When we get more action, I will update. As of now I plan on buying 25-50 shares once we get towards the bottom of this wave ii.

Don't forget, beginning February 23rd (this Friday), I will be dramatically changing my posting schedule here on trading view. My last regular post / update will be on that day.